Punting is not investing

On the equity markets, every day is a contest between buyers and sellers, but rarely does this fight become as one-sided as it was on June 4 this year, with the major indexes down by 9 per cent at one point. Like any such day, there was a stampede of people trying to sell and run. However, some paid more attention to what Nathan Rothschild, a 19th-century British financier, supposedly said, "The time to buy is when there's blood in the streets." Or perhaps they paid attention to Warren Buffett, who said it's wise for investors "to be fearful when others are greedy and to be greedy only when others are fearful." Whatever the case, there were actually many investors who decided to buy at the low prices that the markets were offering. Even mutual fund investors decided to get into this bargain hunting and tried to put in their buy orders on online apps early enough to c